XAU/USD & XAG/USD - Gold & Silver Traders Thread

I hope down rally will continue after 19:55

I got to make at least 1364!

I will wait for the next 1h candle to close to see if the 1370 has become resistance or support and decide from there.

P.S. From what this 1h candle shows right now: 1370 will be support....but you never now with the good old gold

Blood bath @1370-1371

Silver is first to touch 23 for hit 25.5 later.
Gold for 1340 and 1400 after that.

What do you think, bros???

If this 4h candle closes above 1370 i will add more long

I will be wait to more support at $1367 then add long

On one hand, once on the other side of 23.81 we had a break from the area.
To continue at the same pace I was looking for a weekly close above 24.33.
Ill be watching how 25.33 area responds this week, it would not surprise me if our pace slows down, with that in mind 23.39 is also an area of extra interest.


Havnt been paying close attention to gold but looking at the charts 1398.21 and 1346.12 would be areas that I would be paying extra attention to how she responds this week.

Is a real retracement starting up ?

Hello guys, we have , in my opinion, 3 rsupport levels, first one is @1360 where it meets 61,8 fibonacci and also the line channel wich might become the support line, if it brakes those, the next support might be 1350 wich was a strong S/R level for almost 7 days and if that is broken the next support might be 1330+ wich is the support of the main channel in wich all the magic was happening since 27july, but in my opinion i find it very hard to believe that the last support line will be breached without a very very good news for the dollar or the equity world to recover in record times, remember, the US dollar is not the only thing that makes the gold stronger, the whole economic instability does that.

P.S. I will wait a little more (a 4h candle) for the last buy position of 1lot so than i wil have a total 5lots opened, wich i will keep untouched for the next year and if the 1300 gets broken i will enter long with another 3lots.

Enjoy your weekend guys.

.....these two screens looks convincing for me....

So my plan is to wait the bounce from closest support line (~1340) then buy&hold until 1450

No.

but shorting now for 1350 lvl

So bulls and bears what we do for this week ?
Let see how open the price I em bullish ...
It's not correct ABCD but my point of view.

Bearish gartley we must expect point of "D" so if goes up to this point it is OK for my privies post so if somebody had opinion for this posted to the treed .

h1, h4 obviously bearish, so i'm short for 1350

let's see how it will be doing

As of fridays close

weekly chart
gold
1398.21
1346.12
1294.02

silver
25.33
23.39
21.45

daily chart
gold
1387.12
1365.21
1349.50

silver
24.96
24.03
2332-04

tp hit 1360, so whats gold doing this week? hmmm

long for 1366 target

Nice profit

Economic uncertainity+ QE2 + Gold Buying Festival season in India in next 20 days till December will keep it going up...i dont see correction before Jan 2011

I'm long as well again, weekly and daily still to bullish to search for possible short entries

Nice resistance at 1360 long gold at 1375